By: Felix Armstrong

Retail Reporter Felix Armstrong is City AM's retail reporter, covering retail, hospitality and property news. He has previously written for The Times, The Guardian, The Telegraph and The i Paper. Email Felix at Felix.Armstrong@cityam.com

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Greggs eyes 3,500 sites – but its plans could prove to be flaky

July 30, 2026

Sausage roll titan Greggs is already a fixture of almost every British high street, but it’s not done yet. Felix Armstrong chews through its latest expansion plans As Brits jet off to Spain for their summer holidays this year, they will be met with a familiar sight as they touch down at Tenerife airport. Beloved [...]
Trump warns Iran: ‘We’re going to beat the f***ing s*** out of them’

July 29, 2026

Donald Trump has vowed to hit back at Iran after it launched “surprise” strikes against US forces in the Middle East last night. “We’re going to beat the f***ing s*** out of them. We’ll be hitting them hard. They’re going to get a beating,” the US President told Fox News on Wednesday. Oil prices have [...]
Mike Ashley’s Frasers circles Burberry in latest luxury swoop

July 29, 2026

Mike Ashley’s Frasers Group is eyeing up a holding in Burberry as its latest push into luxury fashion. Frasers has revealed that it holds the rights to a 4.2 per cent stake in the British fashion house, which would make Ashley’s group one of its biggest shareholders. The position is held through put options, which [...]
On a roll: Greggs shares soar as it doubles down on aggressive expansion

July 29, 2026

Shares in Greggs soared on Wednesday as the bakery chain said it plans to reach at least 3,500 stores in the UK after a jump in profit in the first half of the year. The sausage roll purveyor reported a 20 per cent boost in pre-tax profit to £76m in the six months to June, [...]
As it happened: Stocks reach all-time high; US fires back at ‘surprise’ Iran attacks

July 29, 2026

Welcome back to the City AM FTSE 100 liveblog. It’s Wednesday and the UK’s blue-chip index surged in early trading to reach an all-time high, brushing off the latest outbreak of attacks in the Middle East. The FTSE 100 hit 10,945 on the market open, eclipsing the previous intraday record of 10,934, achieved in February on the [...]
Lloyd’s of London allows staff to work from home as heatwave hits the capital

July 28, 2026

Lloyd’s of London is allowing its staff to stay away from the historic City building as yet another heatwave threatens to hit London. The home of the world’s leading specialist insurance and reinsurance marketplace has told staff they are able to use their judgement and work from home this week with temperatures in the Square [...]
Next and Frasers go head to head for control of Harvey Nichols

July 28, 2026

Retail giants Next and Frasers are set to go head to head for control of ailing department store Harvey Nichols when the Hong Kong-owned firm takes bids from British suitors later on Tuesday. The Knightsbridge-headquartered department store chain was put up for sale last month by its owner, Hong Kong billionaire Sir Dickson Poon, and [...]
Ocado lets Marks & Spencer off hook in £190m payout dispute

July 28, 2026

Ocado has quietly let Marks & Spencer off the hook in a long-running £190m dispute over its home delivery joint venture. FTSE-250 Ocado has dropped its pursuit of the payout from M&S, which it believed it was owed as part of the business they run together, City AM understands. The two companies took a 50-50 [...]
Student housing giant Unite faces £400m loss amid property value slump

July 28, 2026

Unite Students has plunged to a more-than £400m loss after being hit by a £500m revaluation of its properties and “extremely challenging” building costs. The UK’s largest student landlord slumped to a £417m pre-tax loss in the six months to June, reversing a £186m profit the year before, as its earnings slipped by two per [...]
Unilever turns to ‘avocado mayonnaise’ as food weighs on profit ahead of spin-off

July 28, 2026

Unilever has turned to novel products including “avocado mayonnaise” in a bid to boost ailing sales in its food arm, which is poised to be spun off in a £33bn deal. The consumer goods giant upgraded its sales expectations but saw the performance of its food business and European operations drag on the group’s operating [...]

UK ‘uninvestable’ if North Sea projects are blocked

Exclusive: City Football Group official’s Labour Conference trip made ‘in personal capacity’

Jaguar bet its history on the Type 01, and it’ll pay off

By: Felix Armstrong

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